Making ArcelorMittal ineligible would send a wrong signal: Narayanan Vaghul

ArcelorMittal's investment in India could be a game changer, says Narayanan Vaghul

Essar Steel bids from ArcelorMittal and Numetal — a company 40 per cent owned by Russia's VTB group and 25 per cent by a trust where Ravi Ruia’s son Rewant is a trustee — are awaiting clearance from law firms on eligibility. But Narayanan Vaghul, a former independent director and chairman of the audit and risk committee of ArcelorMittal, tells Ishita Ayan Dutt that if ArcelorMittal is found ineligible, it would send a wrong signal to the global investment community. Edited excerpts:

What do you think of ArcelorMittal's bid for Essar Steel?
 
I was quite thrilled that ArcelorMittal